Honeycomb Credit, a small business investment platform, has secured $6 million in Seed+ funding in a round co-led by SustainVC, Muditā Venture Partners, and the American Family Insurance Institute for Corporate and Social Impact.
The Journey of Honeycomb Credit
Honeycomb Credit, a bank replacement platform, empowers smaller businesses by providing loans. Leveraging the Reg CF securities exemption, which allows firms to raise up to $5 million, Honeycomb Credit democratizes investment. Anyone can participate in these loans, supporting local businesses across the USA.
Fueling Growth and Innovation
The funding round injects fresh capital into Honeycomb Credit’s mission. The company plans to enhance its mobile experience for in-store investing, making it even more accessible. Additionally, they aim to expand their reach, supporting a broader spectrum of small businesses nationwide.
Empowering Communities
Since 2018, Honeycomb Credit has facilitated over 400 loans across 38 states, raising nearly $30 million. Their community capital platform bridges the gap left by traditional banks. As community banks consolidate and underwriting decisions shift, Honeycomb Credit steps in to foster relationships and support entrepreneurs.
